Online taxi bookings have nearly substituted traditional commute systems, and they’re here to stay. For taxi business owners and entrepreneurs who wish to offer cab booking services, mobile apps are now a must. Unfortunately, an online taxi booking app will not be enough to win the tournament.
You’ll face intense competition once you enter the online taxi booking industry. You’ll have to compete with cab-booking applications with millions of active users and billions in sales.
But there is a way out. You must provide people a reason to prefer your cab booking app over competitors to be successful. In other words, a strong and well-known brand with a compelling value proposition is required for your taxi booking business. A competent tech partner – an app development agency that knows everything there is to know about taxi app development and related technologies – is another essential to success for a taxi app solution.
Let’s speak about competitive strategies, taxi app monetization models, and key features to include in your project. We’ll also give an estimate for app development costs.
Strategies to build unique Online Taxi Booking
- Unique Features
There are many online taxi booking apps in the market so your app should provide distinct benefits to both drivers and riders.
- Find for Niche
You need to find your niche, something that is unique and the competition is low there. This is when the market will get attracted to your online taxi booking app.
- Monetizing Model
How will you make money with this app? Will it be on a commission basis or paid promotions or registration or boarding? All of this has t be chalked out.
- Documentation
To make the ride secured, you need to work on a documentation model also need to decide the mode through which documents could be collected and verified.
Business Model to develop Online Taxi Booking
- Aggregator Model
In-cab aggregator business model, they collaborate with cab operators to provide on-demand rides under this business model. The aggregator obtains a commission from operators for each ride that occurs, and the cab operator also pays a charge for using the technological platform’s conveniences.
- Ownership Model
Owner-operators of taxi fleets benefit the most from this strategy. Riders can book a taxi using their taxi booking app by entering their pick-up and drop-off locations, and then relax and enjoy the journey while the taxi comes and takes them to their destination. There are no middlemen in this strategy. The taxi company is exclusively responsible for paying drivers and other operating expenditures such as fuel, cab maintenance, and technology platforms.
Must-have features of online taxi booking app
- Ride Booking
What would your online taxi booking app look like if it didn’t have a ride-booking option? The ride-booking function allows you to set up the driver and passenger versions of the app so that your passengers can schedule a ride on-demand and your drivers can pick and choose which rides they want to take.
- Vouchers
The voucher tool allows you to provide your customers exclusive deals or discounts while also allowing you to share them on social media for various promotional events. Aside from promotion, this tool is fantastic for boosting your sales!
- Navigation
Both the driver and the passenger must be informed of each other’s whereabouts when the booking is made. Aside from that, the navigation feature guides customers to their location by providing step-by-step directions.
- Feedback
Your app should assure that passengers are protected and satisfied with their drivers, as well as that the drivers are not mistreated by the passengers. This is why you must include a review option in your app so that users may rank and review one another.
- Analytics
It is not possible to create an app and expect it to perform flawlessly. With the App Analytics tool, you can see which aspects of your app are performing well and which ones need to be improved. Make changes and improvise.
Estimated cost to build Online Taxi Booking App
The cost of developing a taxi app is determined by several things. They are the core technical knowledge of the development team, the team’s location, and the number of features. Core technical competence denotes that the development team has completed similar projects in the past and is familiar with the technologies required to complete them. It also means that taxi app developers will spend less time conducting preliminary research, resulting in a lesser cost and faster delivery of a mobile taxi app.
On average a taxi app development will range from around $150 to $200, also when it comes to the app’s functionality, the formula is simple: the more features you wish to include, the greater the app’s development cost.
Concluding lines
After integrating with technology, the public transportation industry is on the rise. The decision to enter the market is beneficial, but it necessitates a significant amount of capital. Also, it is important to conduct market research to establish the costs associated with the overall project and application development.
In all this process it is good to collaborate with someone experienced. ReapMind Innovations has wide experience in developing online taxi booking applications. We along with our team have developed LeapRide an online taxi booking app for our client in USA and thus claim our expertise in this field.
As the mobile market is in boom it is better to get into competition now rather than getting in when there is huge competition.
